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Key Features
- Key Benefits
- Design Your EMI
- Grow with Nirmaan
- Flexi Funds
With the aim of enabling MSMEs to achieve their highest growth potential, Godrej Capital Udyog Loan Against Property brings a loan offering that can be availed against a variety of collaterals, and by all income groups. By saying yes to this loan, you can say no to compromising on the growth of your business.
- Qualify for higher loan eligibility with income from multiple sources
- Get a loan against property for up to INR 3 crore
- Higher loan tenure of up to 15 years
- Pay only interest for up to 12 months
Plan the financial strategies of your business with ease. With Godrej Capital Udyog Loan Against Property, avail the benefits of flexible loan repayments and optimize your business growth. Try our EMI calculator.
- Get the flexibility to repay your loan with Design your EMI
- Choose to pay only interest for up to 12 months
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With Godrej Capital Nirmaan, get access to a wide range of value-added services to help in business expansion, managing operations, upskilling, and more. A one-stop solution for all your business needs!
Why to register with Nirmaan?
- Exclusive partner offerings
- Special discounted pricing
- Total savings of up to INR 50,000
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Higher eligibility and flexibility of fund usage? Yes, that exists. Explore our latest overdraft-like facility 'Flexi Funds’ on Udyog Loan Against Property. With this, you enjoy increased eligibility and liberty to withdraw hassle-free with interest being charged only on the amount you use.
- Repayment tenure of up to 15 years
- Loan amount of up to INR 3 crore
- Competitive interest rates
- Convenience to withdraw and repay anytime, as many times without extra charges
- Get rid of fixed EMIs by paying interest only on the utilized amount
- Flexible usage of funds for business purposes
- Multiple/Unique variants to choose from
| Hybrid Dropline | Annual Dropline | Half-Yearly Dropline | Quarterly Dropline | Monthly Dropline |
| Sanctioned limit to remain fixed for the first two years, with withdrawal limit reducing every month thereafter | Withdrawal limit to reduce every year from the sanctioned limit in equal proportion | Withdrawal limit to reduce half-yearly from the sanctioned limit in equal proportion | Withdrawal limit to reduce every quarter from the sanctioned limit in equal proportion | Withdrawal limit to reduce every month from the sanctioned limit in equal proportion |
RESIDENT
Salaried
BUSINESS
Self Employed
PRACTICING PROFESSIONALS
Self Employed
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- EMI Amount
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Loan Tenure
Your Monthly EMI
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Your Eligibility
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- Salaried
- Self-Employed
- Self-Employed Professional
- Copy of Pan Card or Form 60
- Copy of proof of identity (Aadhar number / Valid Passport / Valid Driving License / Voter’s Identity Card)
- Copy of proof of address (Aadhar number / Valid Passport / Valid Driving License / Voter’s Identity Card)
- ITR is non-mandatory
- Business Continuity Proof – 3 years
For resale home loans
- Copy of current Registration or Draft Agreement for sale (only for Maharashtra) / allotment letter / stamped agreement for sale
- Copy of Occupancy Certificate (fully constructed property) or approved plan copy (photocopy of the blueprint)
- Copy of Share Certificate (only for Maharashtra), maintenance bill, property tax receipt
- Copy of payment receipts or bank account statement showing payments made to seller
- Prior chain-link title documents
- Pan Card or Form 60 is a mandatory requirement for the loan application processing
- Proof of identity (Aadhaar number/ Valid Passport/ Valid Driving License / Voter's Identity Card)
- Proof of Address (Aadhaar number/ Valid Passport/ Valid Driving License / Voter's Identity Card)
- ITR is non-mandatory
- Business Continuity Proof – 3 years
For resale home loans
- Current Registered or Draft Agreement for Sale (only for Maharashtra) or Allotment Letter or Stamped Agreement for Sale
- Prior Chain Link title documents
- Occupancy Certificate (in case property is ready) or Approved Plan copy (Xerox Blueprint)
- Share Certificate (only for Maharashtra), Maintenance Bill, Property Tax Receipt
- Payment Receipts or bank account statement showing all the payments made to Seller
- Pan Card or Form 60 is a mandatory requirement for the loan application processing
- Proof of identity (Aadhaar number/ Valid Passport/ Valid Driving License / Voter's Identity Card)
- Proof of Address (Aadhaar number/ Valid Passport/ Valid Driving License / Voter's Identity Card)
- ITR is non-mandatory
- Business Continuity Proof – 3 years
For resale home loans
- Current Registered or Draft Agreement for Sale (only for Maharashtra) or Allotment Letter or Stamped Agreement for Sale
- Prior Chain Link title documents
- Occupancy Certificate (in case property is ready) or Approved Plan copy (Xerox Blueprint)
- Share Certificate (only for Maharashtra), Maintenance Bill, Property Tax Receipt
- Payment Receipts or bank account statement showing all the payments made to Seller
*Disclaimer: All contents mentioned on this page, including but not limited to documents, eligibility may vary for each borrower and are subject to the discretion of the lender. The content is subject to change without prior notice.
- Udyog Loan Against Property
- Flexi Funds
Godrej Capital Udyog Loan Against Property (LAP) is a loan offering specially designed to cater to the Micro, Small, and Medium Enterprises (MSMEs) of India. Udyog LAP is a type of secured loan that allows borrowers to obtain financial help by mortgaging their property as collateral. It is aimed at enabling MSMEs to meet their immediate funding requirements without having to liquidate their property.
Godrej Capital Business Loan is an unsecured or collateral-free loan offering. To avail of this loan, a business owner need not mortgage any collateral. On the other hand, Udyog Loan Against Property can only be availed by mortgaging certain types of property against the loan amount. While both loans can be used for business expansion, purchasing long-term assets, and/or meeting working capital requirements, here are some of the common differentiators between the two -
|
GC Business Loan |
GC Udyog Loan Against Property |
Interest Rate |
From 17% p.a. onwards |
From 11% p.a. onwards |
Loan Amount |
Up to INR 50 lakhs |
Up to INR 3 crore |
Collateral |
None Required |
Property (residential, commercial, industrial, plots, others) |
Business Vintage |
At least 3 years |
At least 2 years |
Loan Tenure |
Up to 5 years |
Up to 15 years |
Godrej Capital Udyog Loan Against Property is designed to help businesses with their working capital requirements, inventory stock-ups, expansion plans, etc. In certain cases, the loan can also be utilised for other purposes, including marriage/wedding celebrations, consolidation of high-interest debt, and medical emergencies, among others.
There are several benefits of obtaining a business loan against property. As this type of loan is provided by mortgaging collateral, it usually offers lower interest rates and a longer repayment tenure than an unsecured loan. Godrej Capital Udyog Loan Against Property offers a higher loan tenure of up to 15 years and attractive interest rates starting at 11% p.a. only. This loan solution further offers higher loan eligibility by considering multiple sources of income. Even as the property of the borrower gets mortgaged to the lender in this loan offering, the borrower can continue to reside and habituate the property.
To be eligible for Godrej Capital Udyog Loan Against Property, a potential borrower must meet the below-mentioned criteria-
The borrower(s) must be a minimum of 21-25 years of age,
The borrower(s) must be a salaried individual, a self-employed professional, or a partnership or private limited company,
The borrower(s) must meet a specific monthly income requirement based on the nature of their profession,
The borrower(s) must have continuous and stable work experience with the same employer or in the same profession, for at least two to three years,
The borrower(s) must have an Indian citizenship.
Here is a list of documents required to avail of a business loan against property –
- Identity proof such as your Aadhar card and/or PAN card. If a firm/company is applying for a loan against property, they might also be required to submit their GST registration certificate and other applicable business registration documents.
- Address proof such as passport (for individuals), electricity bills (for the mortgaged property), and rental agreement (if applicable).
- Income proof documents including –
- Salary slips for salaried individuals,
- Income tax return statements for the past two years or so,
- Profit/loss statement and balance sheet for the past two years or so,
- GST returns (for self-employed businesses, companies, and firms),
- Bank account statements such as salary credit statements and operative bank account statements for the last 3-6 months,
- Property documents such as the title deed,
- Credit score report and processing fee cheque.
This list is subject to change as per the borrower’s loan requirements.
Udyog Loan Against Property has relaxed requirements and accepts a range of property types including self-occupied residential properties, rented residential properties, commercial properties (self-occupied/rented, offices, shops), industrial properties, nursing homes, etc.
Udyog Loan Against Property can be availed for a tenure of up to 15 years.
A borrower can avail of a maximum loan amount of up to INR 3 crore as part of Udyog Loan Against Property.
You can include your spouse or blood-related family members or property owners as co-applicants for the loan. Their income, if any, may be considered for the loan assessment.
General FAQs
Udyog LAP Flexi Funds is an Overdraft-like facility, offering borrowers the flexibility to withdraw and repay funds based on their needs and convenience from a certain sanctioned limit. Just like Udyog Loan Against Property, the loan is availed against the value of the property for business-related purposes. Interest is charged only on the borrowed amount. This cost-effective facility is useful for managing finances and resolving short-term cash flow problems for individuals and self-employed business owners.
Any individual or entity requiring funds can apply for a Udyog Loan Against Property Flexi Funds to a maximum loan amount of INR 3 crores.
Udyog Loan Against Property Flexi Funds offers a repayment tenure of up to 15 years.
Any individual or entity requiring funds for business purposes and possessing a property can apply for a Udyog Loan Against Property Flexi Funds.
The funds from the Udyog Loan Against Property Flexi Funds (Udyog LAP Flexi Funds) can be utilized for business-related purposes like business expansion, buying machinery, cash flow expenses, etc.
Udyog LAP Flexi Fund interest rate, much like in a facility-like Overdraft, is calculated only to the utilized amount from the total withdrawable limit. With Udyog Loan Against Property Flexi Funds, you enjoy the freedom to repay and reuse funds within the specified limit and tenure.
The EMI for Udyog Loan Against Property Flexi Funds is calculated based on the interest charged on the utilized limit. You can continue to make only the interest payment, as long as there is an available balance for the dropline amount to be deducted from the withdrawable limit. Once your limit is exhausted, the EMI will be calculated to include principal payment and the interest charged on the utilized amount.
In a conventional Udyog Loan Against Property, the full loan amount is disbursed to the customer's bank account, and repayment starts through monthly EMIs from the following month. In Udyog Loan Against Property Flexi Loans, customers are sanctioned certain amount with a withdrawable limit and the subsequent repayment includes only interest on the utilized amount from the sanctioned limit. The customer's limit is subject to reduction based on the chosen variant and frequency of reduction.
The fundamental difference between Udyog Loan Against Property and Udyog Loan Against Property Flexi Funds is the flexibility in the repayment of loans.
Godrej Capital offers five variants of the Loan Against Property Flexi Funds:
- Monthly Variant
- Quarterly Variant
- Half-yearly Variant
- Yearly Variant
- Hybrid Variant
Failing to make EMI repayments for Udyog Loan Against Property Flexi Funds, just like with any other loan, can have serious consequences. These may include having your sanctioned limit blocked, damaging your credit score, incurring penalties, facing legal action, and even losing the property mortgaged as collateral.
Adhering to repayment obligations is crucial to ensure you avoid any of the above instances.
You can log in to Godrej Capital’s Customer Portal. The portal will allow customers to flexibly withdraw, check limits, and repay the Udyog Loan Against Property Flexi Funds at their convenience.
Udyog Loan Against Property Flexi Funds – Variants
In the monthly variant of Udyog Loan Against Property Flexi Funds, the withdrawal limit reduces every month from the sanctioned limit in equal proportion in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Udyog Loan Against Property interest rate continues to be applied monthly based on the used limit.
In the quarterly variant of Udyog Loan Against Property Flexi Funds, the withdrawal limit reduces every quarter from the sanctioned limit in equal proportion in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Udyog Loan Against Property interest rate continues to be applied monthly based on the used limit.
In the half-yearly variant of Udyog Loan Against Property Flexi Funds, the withdrawal limit reduces every six months from the sanctioned limit in equal proportion in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Udyog Loan Against Property interest rate continues to be applied monthly based on the used limit.
In the annual variant of Udyog Loan Against Property Flexi Funds, the withdrawal limit reduces every year from the sanctioned limit in equal proportion in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Udyog Loan Against Property interest rate continues to be applied monthly based on the used limit.
In the hybrid variant of Udyog Loan Against Property Flexi Funds, the withdrawable limit is constant for a fixed period of either one, two or three years after which it will drop every month. The drop proportionally reduces from the sanctioned limit in a manner that by the end of the loan tenure, the withdrawable limit reaches "0". However, the Udyog Loan Against Property interest rate continues to be applied monthly based on the used limit.
Collateral & Eligibility
The eligibility criteria for Udyog Loan Against Property Flexi Funds include factors such as property value, business vintage, income, credit history, age, and other specifications established by the lending institution. The interest rate is then determined based on these various parameters.
Udyog Loan Against Property Flexi Funds are exclusively available for business purposes.
Yes, you can mortgage multiple properties to increase the total value of a Udyog Loan Against Property Flexi Funds limit, contingent upon credit policies. The Udyog Loan Against Property interest rate will be determined accordingly.
Yes, you can convert your current Udyog Loan Against Property to Udyog Loan Against Property Flexi Funds to avail the benefits of a facility like overdraft. It is, however, contingent upon approval and meeting the eligibility criteria outlined in the credit policies.
Customer Portal Queries
Step 1: Visit the Customer Portal
Step 2: Enter your mobile number or customer ID
Step 3: Authenticate by entering the OTP sent to your registered mobile number
Step 4: Upon successful completion, you will be logged in
Log in to the customer portal at https://cp.godrejcapital.com, navigate to the "Transaction Tab" in the left-side menu panel, where three options will appear:
a) Withdraw
b) Repayment
c) Transaction History.
Click on the "Withdraw” tab and enter the amount corresponding to the loan amount, then click on “Proceed”.
The transaction can be authenticated through an OTP sent to your registered mobile number.
Yes, repayment of funds is allowed.
- Log in to the customer portal by clicking here
- Access the "Transaction Tab" on the left menu panel
- Choose from three options:
- Withdraw
- Repayment
- Transaction History
- Select the "Repayment" tab
- Enable the repayment section
- Input the amount and proceed
- On the confirmation screen, view the final amount, any deductions, and accept the terms and conditions to initiate the repayment transaction
- After clicking proceed, the customer will be redirected to the payment gateway page to select the mode of payment:
- Net Banking
- Debit Card
- UPI
Note: Please ensure the payment is made from the borrower’s registered bank with the company.
- Choose a preferred mode of payment and submit the payment
Repayment: Customers have the flexibility to repay the entire amount, ranging from a minimum of INR 1,000 to the maximum loan amount, depending on the utilization of funds.
Withdrawal: Customers can withdraw up to the maximum loan amount, with a minimum withdrawal limit of INR 1, subject to the available balance.
Repayment: The repayment facility is available 24/7 throughout the year and has no restrictions on the amount of repayment. It can easily be done through the customer portal.
Withdrawal: Withdrawal of funds from the balance is available every day, except on 4 public/national holidays (26th January,15th August, 1st April, and 2nd October). Additionally, the daily withdrawal functionality is not available between 10 pm to 2 am for maintenance reasons.
Transaction details can be accessed through the customer portal's "Transaction History" section under the Transactions tab. Customers have the option to download/export details in PDF format.
Transactions are limited to the main applicant only in cases where there are multiple applicants on the loan structure.
No, zero charges apply for transactions conducted through the customer portal.
Billing - related FAQs
The billing cycle for Udyog Loan Against Property Flexi Funds is from the 27th to the 26th of each month.
For example, the billing cycle for Jan'24 would span from 27th Dec'23 to 26th Jan'24. The bill is generated at the end of the day on the 26th Jan'24, reflecting the daily utilization of funds from the sanctioned/withdrawal limit, as the case may be.
The EMI primarily comprises interest on the utilized amount till the sanctioned limit sustains. Once the sanction limit is exhausted, the EMI includes principal amount as well as the interest computation on the utilized amount.
At the end of the day on the 26th of the month, the bill is generated based on interest computation and principal amount utilized, as the case maybe. Customers are then provided an additional 10 days to ensure sufficient balance in the account before the EMI is deducted through NACH services.
In the event of an EMI bounce, charges, including late payment fees/penalties, will be imposed, and payment is to be made through the customer portal. Refer to the schedule of charges in the terms and conditions section of the Loan Agreement for more details.
Yes, the beneficiary account can be changed. Customers can initiate this request by logging into the customer portal or by reaching out to the customer contact centre for assistance.
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